Most of today’s successful businesses started with an idea or a dream. Due to the fact that some entrepreneurs lack relevant feedback on their ideas, experience or resources, they get stuck or fail. A way to validate one’s idea and to benefit from other people’s expertize regarding startups is to publicly expose it to local events where one could find investors, businessmen or company representatives. They scout local talents and share their expertise – free of charge – to support solid ideas or projects and thus they contribute to a healthier local business market.

Local events bringing together knowledge and money

Such an event open to all enthusiasts with business ideas is Startup Weekend Brasov, where all entrepreneurs were invited between May 19-21, no matter their age, level of experience or background. What counted most was the ability to transform a dream into a successful business. The event tested the capability of the entrepreneurs to work together and to deliver a clear and convincing presentation in order to determin investors bet their money on their ideas. Participants who came up with the most valid business plans were awarded free mentoring sessions, free access to a coworking space in Brasov, invitations to a leading technology event in Eastern Europe, and many more.

This event, as well as all Startup Weekend events that happen around the globe, represents an opportunity for entrepreneurs to meet people similar to them, to share know-how, and maybe even to partner up for a more successful startup. The ideas who got rewarded at this Startup Weekend edition in Brasov showed interest in helping the elderly community, contributing to a healthier environment and exploring new means of entertainment through experiences and turistic getaways.

A jury of experienced entrepreneurs and managers

During this event, a series of coaches and mentors were available to give a hand when projects got to a dead end and constructive feedback was offered to boost chances to impress a potential investor. The whole process was kind of difficult, but in order to have success in business, one has to over pass the hardships and overcome one’s fears to be able to grow an idea from scratch. Experienced entrepreneurs and managers shared their expertise so that the top ideas (as determined by popular vote) have more chances to obtain market validation. Monica Jiman, CEO at Pentalog Software Factory, and Dan Avram, Brasov Delivery Center Manager, took in the jury member and the mentor roles during 2017 edition of Startup Weekend Brasov. Their message to all entrepreneurs out there is to never stop learning, dreaming and finding ways to make the world a better place.

Their vast business experience is a valuable asset and their objective is to guide and support projects with IT potential through Pentalabbs, the financial armed wing of Pentalog that provides startups with high-added value technological and digital services. Pentalabbs created the concept of services for equity which is a method of funding that grants startups access to key resources that will boost their development and growth in exchange for shares in their company. This model is perfect for startups; it gives quick and simultaneous access to funds and high value-added IT expertise provided by committed service providers coordinated by Pentalabbs.

Also, if you are interested in recruiting local talent, Skill Value can help with the technical assessment, coding exercises and hackathons, through which you can attract and engage your IT community.

Pentalog has been actively supporting events that bring together entrepreneurs and startup enthusiasts passionate about the latest technologies. One of our events in the beginning of 2017 was dedicated to the blockchain technology: we wanted to learn how to take full advantage of the blockchain opportunities – smaller operating costs and increased profitability, micropayments, cheaper transactions and consumption microcredits.